RoboForex Review – Is RoboForex a scam?

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RoboForex is a Belize Forex, CFDs and Stock Broker.

This broker is regulated by the ISFC of that country.

To give more security to its clients, this broker has joined the Financial Commission, an international body that acts as a moderator in cases of problems between international traders and brokers and that even has an insurance fund of up to 20,000 euros for cases in which it provides to compensate the client for problems.

RoboForex is the parent company and offers trading services to the vast majority of countries in the world, including Latin American markets, such as Mexico, Colombia, Argentina, Peru or Chile.

In the case of Spain and Europe, the company provides services through the subsidiary located in Cyprus and with offices in Germany: Robomarkets.

Created in 2009, it quickly became one of the leading brokers in the world market, growing from 1,000 accounts in 2010 to 800,000 in 2017.

In addition, it has an international presence in Malaysia, Moldova, Indonesia, Belarus, the United Arab Emirates and Nigeria, being a broker that clearly bets on emerging markets.

What is RoboForex?

RoboForex is a broker market maker, ECN and also STP depending on the accounts in question, since it has several types of them.

  • Country: Belize
  • Regulation:  ISFC
  • Markets: Forex, CFDs and binary options
  • Type: Market Maker and STP
  • Minimum deposit:  10
  • Deposit methods: card, transfer, Skrill, WebMoney, NETELLER, etc.
  • Platforms: MetaTrader 4, MetaTrader 5, R Trader, cTrader
  • Spread: typical 0.49 EURUSD on ECN Pro
  • Commissions: depends on account
  • Social trading: yes
  • Scalping: yes

Financial education with RoboForex

RoboForex offers extensive Forex education services, such as videos, articles, glossary, seminars, technical and fundamental analysis, calculators, etc.

There are lots of educational videos that you can access by joining RoboForex.

We must also highlight the FAQ section and the forum of the same broker.

Awards with RoboForex

This is one of the international brokers with the highest number of awards, among which:

  • Manchester Investor Show 2018: Best Crypto Broker
  • London Forex Show 2017: Best Investment Products
  • IAFT Awards 2016 and 2015: Best Forex ECN Broker

Open account with Roboforex

Opening an account with RoboForex is relatively simple, even more so than with other brokers, since in our case we verified that the account was opened very quickly since the checking of documents by the broker was almost instantaneous.

As always, the process started with our registration in the system, with our personal data, email, etc.

Then they send us an email to verify that it is us and later we will have to send our identity document and proof of residence such as a copy of the passport, ID or identity card in the first case, and an invoice or I receive with our address in the second.

Open a free demo account with Roboforex here . Risk warning

RoboForex minimum deposit

The minimum deposit is also quite small at $ 10 for the simplest accounts like Standard or even ECN.

In the case of wanting to open a Prime account, with the best conditions, we will have to deposit $ 5,000, but in that case we will be negotiating with almost institutional conditions, such as paying $ 1.5 per negotiated lot, one of the lowest commissions that we can find in the entire Forex market.

Deposits can be made using the following methods: transfer, card, Skrill, WebMoney, LiqPAY, Payoneer, UnionPay, Neteller, AstroPay, paysafecard, Lobanet, Neosurf, Teleingreso, todito Cash and Dinero mail.

There are no commissions on deposits.

In addition, RoboForex is also committed to protecting against negative balances .

RoboForex Bonuses and promotions

This is one of the brokers where we can find a greater variety of bonuses and promotions.

Some of the following, which will be subject to change over time, are as follows:

  • Tesla Electric Car Giveaway.
  • Bonus of up to 75% when making a deposit by Skrill.
  • Welcome bonus of 30 USD.
  • Deposit bonuses of up to 115%.
  • Negotiable bonds of 10, 15 or 20%.
  • Leverage of up to 1: 1000.
  • Up to 20% in available funds.
  • Deposit into the account without commissions.
  • Rebate services (volume discounts).
  • Free VPS server.

Some of these promotions will be subject to conditions and, logically, they will change as time progresses.

Open an account with RoboForex and claim the $ 30 welcome fee . ( offer not valid for European customers )

RoboForex investments

This broker also offers the CopyFX service, an Australian copy trading or social trading company, where traders can offer or copy the trades of the best traders.

Likewise, it offers the RAMM account copy trading service which is a simple social trading system where you can operate under the same conditions and at the same price as those selected strategies.

The minimum to participate in this service is 10 USD and the stay of one week.

RoboForex platforms

RoboForex offers a wide variety of platforms, including MetaTrader 4 , MetaTrader 5 , cTrader, R Trader, and corresponding mobile versions.

The Metatrader 4 platform as always gives us the best algorithmic trading options and the possibility of trading mostly in Forex, but also in raw materials, indices or cryptocurrencies.

In addition to the PC platform, we can use the web version, with practically the same functionalities.

We also have the possibility to use Metatrader 5 , the most advanced version of the MT4, and which in addition to the products of the previous one, offers access to the vast majority of stock CFD markets in the world.

The CTrader  is also available from this broker.

With this platform we will have:

  • Less common order types
  • Level II Market Depth
  • 54 technical indicators
  • 14 time frames

The R Trader platform is web-based and is special for operating a large number of markets, in this case more than 8,000, with access to practically all of the world’s major equity markets.

On this platform there is access to level II market depth.

We can also enjoy the corporate actions of the titles such as dividends and others.

As if this were not enough, this platform also supports algorithmic trading.

RoboForex accounts and markets

RoboForex is one of the Forex brokers that makes the most types of accounts available to traders, in such a way that it covers all market profiles.

Standard FixPro StandardECN ProECN Fix NDDFix CentPro Cent
CommissionNoNo2 USD lotNoNoNo
Minimum deposit10101010
Spread (from)20.401.620.4
Leverage1000100030030010001000
Minimum size0.010.010.010.010.010.01
Rebatesup to 3 USDup to 3 USDup to 30%up to 3 USDup to 1up to 1
Instrumentsforex metalsforex, metals, CFDsforex, metals, CFDsforex metalsforex metalsforex metals

The R Trader account has a minimum deposit of $ 100 and the Prime , as we mentioned before, of 5,000.

In the Pro Standard account we can even have the account denominated in cryptocurrencies such as Bitcoin.

Leverage with RoboForex

Being a regulated broker outside the European Union does not apply the ESMA leverage rule so with this broker all traders in the world can trade up to 1,000: 1, one of the largest in the world, and that we can find in instruments such as Forex.

In equity CFDs, for example, we can trade at 20: 1 leverage.

Typical Spread Forex Averages

Pro-CentStandard FixECN Pro NDD
EURUSD1.3820.49
GBPUSD1.9631.19
USDJPY0.930.74
AUDUSD1.240.84
USDCAD0.940.95
USDCHF1.741.87
Gold81.4710033.38
Manzana1.46
Google32.88
SP5000.4
DAX15.44

The spreads in Standard Pro are like Cent Pro.

RoboForex review

RoboForex is one of the brokers with the most variety of services and accounts on the Forex and CFDs market, providing a wide flexibility for all types of traders, large or small, who like copy trading, or CFDs.

In addition, it is a broker that offers full Spanish services, with a website with fairly clear and concise information.

As for resources, this is one of the brokers with the most impressive volume of resources and options, with a large number of copy trading services such as RaMM and CopyFx.

In terms of services, the recent implementation of the R Trader, a platform for stocks and ETFs, stands out, with which the broker catches up with the world’s great brokers.

As for trading, it is a broker that also has several ECN accounts with which we can also trade in the best conditions with it.

Is RoboForex a scam?

We are talking about a broker with a global presence, as it is not only regulated in America, but also in the European Union with its subsidiary in Cyprus and its offices in Germany.

Furthermore, the broker has an acceptable reputation in international circles in the world of CFD brokerage.

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